Technological advances and increasingly rapid development make all kinds of things in our lives must be able to move quickly and adjust to modern life that is increasingly practical and easy. This also ultimately requires humans to have a variety of tools and systems that are supported by advanced technology and all forms of facilities that can support daily activities.
One of the things that must be owned at this time is qualified transportation, which is expected to be able to balance all kinds of activities and various activities that must be carried out throughout the day. The inadequate public transportation system that we have, makes most people think of having a private car as reliable transportation.
Buy on Credit
Hampered with funds? Do not worry. Today there are many leasing and financial institutions that will be happy to help you own a car through installment payments. This will overcome the problem of lack of funds experienced, where you only have funds reaching 25-30% of the total price of your dream car, you can already bring the car home. Easy right?
Some people might think that buying a car on credit will create debt and some tiring installments for months or even years. This is indeed true too, but this will greatly depend on how and how much the actual benefits you will get by making a purchase of the car.
Therefore, the problem of lost or fortunately a person when making a car purchase on credit will be very relative and depends on the benefits obtained by the person for the purchase of the car he did.
Costs arising in the purchase of credit
In a car purchase transaction on credit, then you will be faced with a number of costs that are outside the monthly repayments and a number of advances that you must pay. You, of course, have to understand some of these costs and know clearly the uses and benefits that you will get as a result of these costs.
In general, there are 2 components of costs that will be billed on the first payment you make, namely: provision fees and fiduciary fees. Both of these costs are of course levied for a number of reasons, but another thing that is no less important for you to address is the amount or amount of costs that you will pay.
Provision fees or what is more familiarly referred to as administrative fees are costs that are mandatory and you will find in almost all purchases that you make on credit, where this also applies to car purchases on credit.
According to Lapoliwa and Daniel S. Kurnadi, provision fees are a number of funds that will be a source of income for financial institutions such as banks and financial institutions, where these costs will be received and recognized as income by these institutions. Meanwhile, according to Kasmir, the provision is the amount of funds that must be paid by the debtor to the creditor as a form of service.
Most people consider that the cost of the provision is the same as the commission, even though the two things have different meanings. Commissions are fees paid to intermediaries for transactions between creditors and debtors, which are intended as a thank you for their help. While provisions are costs incurred by creditors for services or facilities that have been received by him.
In general, the amount of the provision will vary and depends on the type of item being credited, where the leasing party or bank will usually determine it as a percentage which is then multiplied by the total price of the item credited.
Provision costs will be collected directly at the beginning of the credit. As for cash loans, the provision fees will be deducted directly from the amount of credit debt submitted by creditors.
In purchasing a car on credit too, you will be charged a number of fiduciary fees. Fiduciary costs represent costs incurred as proof of trust. For example, when applying for a car loan to leasing, you will be charged a fiduciary fee of USD 50,000.
A fiduciary is a process of transferring the right to ownership of objects carried out on the basis of trust that guarantees that the debtor remains the owner of the credited car, even though his BPKB is used as collateral and carried by the leasing party as the credit financing institution.
Both fees will be charged for those of you who apply for car ownership loans. Do not let you forget the fiduciary cost because it will be very important and useful as a form of collateral if at any time you experience problems such as bad credit and loss of car while the credit period is still ongoing.
Understand it well
Various types of cost components that are charged in the purchase of credit and credit loans will greatly affect the amount of installments that you will pay each month. Understand all the components of these costs from the beginning, so you have the right picture and amount of installments and must be paid every month.